Likas Continue To Shine

Just to share with all of you news from thestar.com.my as at 12-07-2010..

Soam said IJM Land was also targeting the growing Kota Kinabalu market and planned to launch an exclusive condominium project, with a panoramic view of Likas Bay and Kota Kinabalu city centre later this year. The 8-acre project has a GDV of RM160mil.

Hi,
So far nothing yet. I heard the whole projoect expected to be lauching within the next 6 month with selling price not less than RM600 psf and unit size is more than 2000sf per lot. Happy Investing.

this is just my personel opinion ya, both are ok, but for me i will choose luyang villa. reason being luyan villa is closer to town and it is landed, it is he first in old town kk to be guarded and gated which is all the rave nowadays. new town kk im referrig to sulaman area lah, just opinion. i have a lot of friends who have luyang vila and easy to rent. howver to get good tenant would need some connection such as korean agent and such.

HI,
I always buy property that surrounded by alot of vacant land. This is to protect our future value as the vacant land will not be forever vacant land!! When developer start to develop the land sure this will stablise the existing value or might help to pull up the value as well. Just like Api Api, I bought it for RM124psf, waterfront new project is selling for RM700 psf. When waterfront completed, I think Api Api can easily valued half of waterfront selling prices. Another example, when I bought my Lucky Height at RM96K @ 1050 sf, IJM Land is expected to lauching one project nearby end of this year selling for RM600psf!! I dont think my condo value cannot fetch RM250-RM300psf by that time!!! Its worth think it over..Happy Investing.

CK wong loves a surrounding vacant land. This is not without risk. At least in west malaysia, surrounding vacant land can be owned by different companies/individuals that have very different ideas. After all, we are all here doing business, right?
Here we have vacant land being turned into
1. exclusive ( high class) crematorium/ burial plots,
2. low cost high rise apartments (you dont have this in KK yet) or even
3. 6 lane expressway running just 50m from your front door, or even
4. railway line (LRT) running across the land.
So just beware and know what we are buying into.

I guess u r not really familiar with KK, let me answer u 1 by 1:
1. We already have, their name is Nirvana, so will there be another high class crematorium I dun think so. Even the Foo Chow Association here also buy a vacant land to turn it into burial plots, what I heard is the land is just beside Nirvana. Dun underestimate the people in KK, they r rich, u may come to have a look a around.
2. Our low cost high rise apartment is 11 storey high with lift, the price is RM 150,808 & above, low cost? cheap? u decide. Apartment like Miharja(KL) only sell for 82K last year.
3. The expressway is done by the State Government & I never come across which expressway is only 50M in front of house in KK, and the people here no need to pay “TOLL FEES” & they never heard of “PLUS”. Frankly speaking, we only have Highway, yet to have Expressway. But State Gov in Sabah they will give u compensation when they going to acquire ur land even just 50M in front of ur house, before they gonna build something on it.
Are this happen in West Malaysia???
4. Eventhough KK have the 2nd busiest airport after KLIA, but to build LRT is up to the Federal Gov based on the population, KK only have 900K people(based on wikipedia), a lots more cities in Malaysia population more than this, so, will they build here is just a question?

Well Joe, even we live in trees, but we use lift to go up (something like in Avatar), even we are not that populated, but we have the highest mountain in Malaysia, even we have a very beautiful sea, but we never forget we got the most beautiful island in Malaysia. Maybe our population is mix of all kind of Races, but we are the most friendly people in Malaysia.

I ever reside in KL, Kuching, Miri & now KK, they are all City, so if u ask me whats the different, I can only tell u that come to KK, INVEST IN KK!

Great blog you got going on here!
My name is James, and I currently am based in Hong Kong.
My dad (who lives in the UK) and I have been considering the option of buying a property in or around KK. Though we have visited the area several times, we are not so familiar with the property market over there. Would you be able to provide some guidance as to areas in KK as well as areas around KK that you think would be good places to invest? It does not necessarily ahve to be in the centre of KK, it can be areas nearby that have decent access to KK. We are looking at a modest family home, somewhere we could come to on holidays for friends and family.

HI,
What budget you are looking at?So its your holiday homes? There is alot of holiday homes along Tuaran to Kudat for Holiday homes especially for MM2H program whereby government fully encourage foreigner to come in. Happy Investing.

morning cifu CK. beside KK, im concentrating mostly in kolombong area. In your latest article you mentioned about metro town. This one is strictly for rental is it? And what’s your opinion on Taman Canggih subsale? is that area got pontential? to hold a few more years before sell back

HI,
Tmn Canggih is not matured in terms of their rental. But at the back of Tmn Canggih will be developed into another commercial ie shoplex..I think the developer might launch it soon. So it worth to keep for rental and capital appreciation. Happy Investing.

i live in inanam. i think tmn canggih gonna take quite awhile to thrive but metrotown is sure gonna flourish at least we dont hv to drive all the way to city mall or lintas plaza for hangouts anymore. we can just hv metrotown in our backyard for entertainments lol

HI,
Yes I agree. The rental offer is reasonable with Ground not more than Rm2500pm while the whole block not more than RM5K. There is 312 units of shoplot there..and I heard more than 40% has been rented and HSBC might open a services centre there..If there is road linking to Radiant Court, Lucky Height & future Ijm Land project I think this will push up the value more. Happy Investing.

Metrotown is off-limits to investors. You can only rent there to do business. But the spin-off effects will push the surrounding land value up, so properties in the vicinity such as Radiant, Masionette, Lucky Heights will benefit. Especially so when they link up these areas with a bypass road.

Is RM 600 sustainable for “highend’ condo in KK, ie Peak/Waterfront/Marina.
Also , what is market vaue for Gaya St Shops and Kg Air Shops -4 story. I heard Gaya transact at 2.9M intermediate and KG Air at 2.3M

hI,
Gaya street will continue simple because they are the main banking street.I believe Gaya will continue to grow and the middle to upper class tenant will move in due to higher rental expected. Happy Investing.

yes, think gaya st,as you can see how jubilee is transfromed by mr tan. continue cos is the Banking Hub, and also new hotel cmg in where Nosmal ct was. Do you give value for jln pantai to jln Tugu kg air till high court round about. in mudah recently, 3.5M corner 5floor. you give value for this. corner sedco was sold 3.1M renovated hotel.
most these buyers are malaysians from brunei. what is the curnt yield for kk town.

Thanks CK, for including a ‘search’ into yr blog. I searched for likas, and your article came up. TQ.

Its residential land with 42 year lease. The house is a simple s/s kampung hse with vast land (8000sft). Nice I thought, after i do it up.
Next the pricing. Would it be fair to ask the seller to absorb the cost of renewing the lease title? If he does, it will be great.
If he does not, then can I say I am buying the house at the current price of 400k + cost of renewing the lease ( about 100k) ie 500k. I am confused now. What are your views>? Is it worth it?
If 500k for the same property, at todays value, is pricey. Same area land is sellin at rm28psft, terrace intermediate d/s 380k.

HI,
There is no different whether you renew the tenure or the land owner renew. Alot of Kg owner are running out of cash that why you can wait for durian to fall.. I wont purpose properties within Bumiputra zoning. The value will be abit slow even though its a CL land..Happy Investing.